Jupiter in talks for $100M funding
Neobank Jupiter is in talks to raise $100 million in a funding round led by QED Investors and Sequoia Capital along with participation from Tiger Global.
As per a statement last week, Jupiter said that it has 3,000 new customers joining the platform and saw deposits of over Rs 100 crore from customers in the past one month. The neobank collaborates with Money Pots to encourage users to save money and plan for a trip or buy electronics. It has partnered up with both Federal Bank and Visa to issue zero-balance savings accounts and debit cards to its users.
“QED and Sequoia are likely to lead the new round, while the conversation with Tiger Global is underway. There is a lot of interest in the consumer-facing neo banks offering digital savings bank accounts and financial guidance on saving, loans, etc,” said an ET source.
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